Valentus Specialty Chemicals Acquires National Paint Industries
DETROIT - Huron Capital Partners LLC (Huron Capital) announced its specialty coatings ExecFactor® platform, Valentus Specialty Chemicals Inc. (Valentus), has acquired North Brunswick, NJ-based National Paint Industries Inc. (NPI). Huron Capital formed Valentus in partnership with coatings industry veterans Ray Chlodney, John Ragazzini and Bob Taylor to pursue a buy-and-build initiative in the industrial coatings sector.
NPI is a manufacturer of high-performance specialty coatings used in residential and commercial flooring, industrial protective maintenance, pool, marine and other applications. The company has been owned and operated by brothers Mike and Don Schnurr, whose father founded the business in 1959. As a result of the acquisition, the Schnurr brothers have become significant shareholders in Valentus and will serve on its board of directors. They will continue to run the day-to-day operations at NPI.